Semper Paratus Acquisition Corporation (Nasdaq: LGST) filed an 8-K today announcing that on May 3, 2023, it had entered into a subscription agreement with Polar Multi-Strategy Master Fund and Semper Paratus Sponsor LLC.
The Investor agreed to contribute $151,000 to the Sponsor, which will be loaned to the company to cover working capital expenses. In exchange for the Initial Capital Contribution, the company will issue 151,000 Class A ordinary shares to the Investor at the De-SPAC Closing, subject to no transfer restrictions or lock-up provisions.
The SPAC loan will not accrue interest and will be repaid by the company upon the De-SPAC Closing. The Investor may elect to receive the payments in cash or Class A ordinary shares. If the company liquidates without consummating the initial business combination, the remaining amounts will be paid to the Investor.
Purchase Agreement
On May 4, 2023, the company entered into a purchase agreement with SSVK Associates, LLC and the Sponsor. The Acquirer will purchase 7,988,889 Class A ordinary shares and 1,000,000 private placement units from the Sponsor, free and clear of all liens and encumbrances, for an aggregate purchase price of $1.
The Acquirer will assume responsibility for all of the company’s public company reporting obligations, outstanding legal fees, and all other obligations related to the company. Pursuant to the Purchase Agreement, the Acquirer has the right to replace the company’s current directors and officers with directors and officers as the Acquirer may select in its sole discretion.
Latest SPAC Liquidations: 26 Capital Acquisition Corp. 26 Capital Acquisition Corp.(ADER) to Liquidate on September 21, 2023 26 Capital Acquisition Corp. (Nasdaq: ADER), today announced that it will be unable to complete an initial business combination within the time period required due to the Delaware Court of Chancery’s decision denying 26 Capital’s request for an order...
LatAmGrowth SPAC (NASDAQ:LATG) announced in an 8-K that it adjourned its special meeting yesterday to liquidate early and will reconvene it at 2 pm ET September 28. The proposals on its ballot would have initiated the process of winding down the SPAC and returning all trust capital to investors outside of $100,000 for dissolution expenses....
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. JSE reviewing listing requirements with aim to simplify them The Johannesburg Stock Exchange will be reviewing all its listings requirements with the objective of further simplifying its requirements, as part of its ongoing efforts to create an...
Nabors Energy Transition Corp. (NYSE:NETC) announced this morning that Vast has added an equity commitment of up to $10 million to its combination with concentrated solar power producer Vast. The new commitment comes at $10.20 per share from the Canberra Airport Group and half of it is to come up front at close. A further...
M3-Brigade III (NYSE:MBSC) announced this morning that it has closed its combination with Canadian energy producer Greenfire and the combined company is expected to trade on the NYSE under the symbol “GFR” later today. Concurrent with close, Greenfire also issued $300 million in new senior secured notes at a 2% discount, priced at $980 per...